FedEx and UPS to refund billions after Supreme Court voids Trump-era tariffs under IEEPA.

Following a Supreme Court ruling that invalidated tariffs imposed under the 1977 International Emergency Economic Powers Act (IEEPA), FedEx and UPS announced plans to return billions in tariff refunds to customers. The ruling affects roughly $166 billion in tariff collections, with the federal government now processing refund claims through a new system. While these refunds won't materially impact logistics firms' financial results, they highlight the broader economic disruption caused by the tariffs. The government expects most refunds to be issued within 60 to 90 days, though some cases may take longer, and other trade measures remain in place despite this ruling.